Contact Financial Holding, Egypt’s non-banking financial services organization, collaborates with Trella via four subsidiaries: Contact Factoring, Contact Leasing, Contact Credit, and Contact Creditech.
Each agreement gives Trella a customized way to pay for its working capital, carrier base, truck spare parts, and maintenance services. This helps Trella get started in Egypt and grow in other countries.
Contact Factoring signed a financing agreement to help Trella Egypt meet its working capital needs. Contact’s other two subsidiaries, Contact Credit and Contact Leasing, will help Trella’s carrier base buy trucks, either for individual carriers or for MSMEs that already have a fleet of trucks and want to grow it.
Contact Creditech will provide financing for Trella carriers’ purchases on the Trella Store. This online marketplace sells trucking supplies and services, including tires, brakes, engine lubricants, maintenance services, and other essential trucking items.
We count it as a blessing that Contact is one of our business partners since this allows us to offer various financing options to our clients. There has been a lot of change in the supply chain lately, but not as much in how financing options are made available to the people involved.
Through our partnership with Contact, we will offer ancillary financing solutions to our carriers and source working capital facilities for our trucking business. This will help us get closer to our goal of empowering our communities, said Omar Hagrass, the CEO of Trella.
This agreement is part of Contact’s long-term plan to help startups. Contact has worked with startups like Wasla, OneOrder, Shatablee, Toothpick, Nawy, and Skansen.
Trella is a business-to-business (B2B) technology platform and digital freight marketplace for the MENAP region.) that connects shippers with carriers. Trella is attempting to “revolutionize the transportation and logistics sector by redesigning trucking to provide transparency, reliability, and efficiency to an archaic logistics market.” The company has raised $42 million in funding to support its mission.